PHOENIX—In this edition of Deal-Tracker, Cushman & Wakefield of Arizona, Inc. completes the $1.5 million sale of an industrial property at 3025 W. Weldon Ave.
The 23,500 square-foot building is situated on approximately three acres of land and was constructed in 1966. Talus Development Corporation, a Phoenix-based telecommunications and utility contracting firm purchased the building. Talus Development was in the market to purchase a property for its own use and the company will occupy the entire property. The company purchased the industrial property from JAG Properties III, LLC of Arizona.
“The client's complex requirement was challenging to fulfill due to constrained supply of the property type desired, but our team successfully navigated the buyer to a property that met its needs,” says Paul Sweetland senior director with Cushman & Wakefield. It is an ideal, centrally located building for their business.”
Sweetland, Justin LeMaster and Keri Scott of Cushman & Wakefield's Industrial Properties Group represented the buyer. Greg Dodge of DTZ represented the seller.
PHOENIX—Daum Commercial Real Estate Services has negotiated the $1.7 million sale of a 27,872-square-foot industrial building located at 819 W. Fairmont Ave. in Phoenix.
Rich Sica and Jay Krew with Daum Phoenix represented the seller. Justin LeMaster of Cushman & Wakefield represented the buyer in the transaction.
The buyer, SPCLO IV, LLC of Phoenix bought the industrial space for distribution purposes and also plans to lease a portion of the building. The seller of the free-standing industrial building was West Fairmont Investments, LLC of Scottsdale.
PHOENIX—Chen Development Group from Daly City, CA has purchased the 6 Palms apartment complex, a 35-unit multi-family property located at 2522 W. Highland Ave. in Phoenix, from Blaine, WA-based JL Investing, LLC. Brian Smuckler and Jeff Seaman of CBRE's Phoenix office represented the seller in negotiating the $1 million sale.
PHOENIX—Safari Drive Marketing, LLC (ST Residential, LLC) has sold Safari Drive, Phase II, a 1.85-acre development site that includes four existing commercial units totaling 7,694 square feet. Safari 159, LLC purchased the site located north of the northeast corner of Scottsdale and Camelback roads for $2.85 million.
DTZ's executive managing directors David Fogler and Steven Nicoluzakis and managing director Don Arones represented ST Residential during the transaction.
“The Safari Drive Phase II development site offered the buyer a premier location at Scottsdale's most high-profile intersection, with a Scottsdale Road entrance and frontage along the Arizona Canal,” according to Nicoluzakis.
Safari 159, LLC indicated they are holding the property as an investment.
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